Quarterly ResultMay 14, 2026, 04:17 PM
KULR Q1 Revenue +98% to $4.85M; Net Loss $28.1M
AI Summary
KULR Technology Group reported its first quarter 2026 financial results, showing a 98% increase in revenue to $4.85 million and an improved gross margin of 29%. The company also reduced SG&A and R&D expenses, leading to a 22% decrease in operating loss to $7.39 million. However, net loss significantly increased to $28.12 million, primarily due to a $20.77 million non-cash mark-to-market loss associated with its bitcoin holdings. Management emphasized progress in operating performance and cost control, despite the impact of the bitcoin loss.
Key Highlights
- Revenue increased 98% to $4,846,430 in Q1 2026.
- Gross margin improved to 29% in Q1 2026 from 8% year-ago.
- SG&A expenses decreased 9% to $6,531,969.
- R&D expenses decreased 28% to $1,770,500.
- Operating loss decreased 22% to $7,385,177.
- Net loss increased to $28,119,844, or $0.61 per share.
- Net loss included a $20,767,713 mark-to-market loss on bitcoin holdings.
- Cash balance was $19.0 million as of May 13, 2026.